How Amazon Became Leading Online Retailer by 2011

How Amazon.com Became the Leading Online Retailer by 2011

Identify Amazon’s Primary Business and Business Strategy

LECTURE 8, 9

* Since its founding in 1995, Amazon. com ( Amazon) has grown from an online bookseller to a virtual re-tail supercenter selling products as diverse as books, toys, food, and electronics for which it is best known today. On Amazon’s main storefront, customers can discover anything they might want to buy online and it endeavors to offer customers the lowest possible prices.

* In 2011, its business mission states that its goal is to be “ Earth’s most customer- centric company” for three primary customer groups: consumer custom-ers, seller customers, and developer customers.Identify Amazon’s International strategy

* What was the vision for his new venture? To build an online bookstore that would be customer- friendly, easy to navigate, provide buying advice, and offer the broadest possible selection of books at low prices.

* Bezos’ original mission was to use the Internet to of-fer books “ that would educate, inform and inspire.”

* Bezos realized that, compared to a physical B& M bookstore, an online bookstore could offer customers a much larger and much more diverse selection of books.

* And to motivate employees, Bezos decided to give all em-ployees stock in the company. Amazon employees own over 10% of their company, a factor behind Amazon. com’s rapid growth.

* In fact, Jeff Bezos is a firm believer in the power of using teams of employees to spur innovation. At Amazon, teams are given considerable autonomy to develop their ideas and experiment without in-terference from managers.

* Bezos and his top managers believe that Amazon is a technol-ogy company first and foremost, and its mission is to use and develop its technological expertise to sell more and more goods and services in ways that sat-isfy customers and keep its profit growing.

* By using all his energies to act on the online bookselling...